DALLAS, Texas – June 4, 2013
CBRE’s National Retail Investment Group arranged the sale of Bryan Towne Center to New Jersey-based Lamar Companies. The 52,268-square-foot, value-add retail center serves the Bryan-College Station, Texas.
The Target shadow anchored center was built in 2008/2009 and includes six acres of undeveloped land that can accommodate an additional 230,225 square feet of future retail development. Bryan Towne Center is 66 percent occupied and features key tenants Dollar Tree, Rack Room Shoes, Maurice’s and rue21.
The center has frontage access to Highway 6, which sees 90,000 vehicles daily, and is less than three miles from Texas A&M University.
CBRE Senior Vice President Chris Cozby, Vice President Chris Gerard, and Vice President Kevin Holland represented the seller, a subsidiary of BMO Harris Bank, N.A.
The property was purchased for an undisclosed amount.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.